A rate hike of 50 basis points at once, double the usual rate, has gone from being an option to appearing almost as the base case of analysts for the ECB. The result is new 2011 highs in short-term European debt interest.
The fixed income is paid again to lurches. In less than a month, the interest rate on the benchmark European debt, the German bund, has gone from reaching 2014 highs of 1.16% to deflating to 0.85% and recovering today its highest levels in 2014.
